How they describe themselves: Ondot brings together executives from mobile, security, and payment card industries that share a vision of transforming how consumers interact with their financial institutions. Ondot is the creator of Mobile Card Services, a solution that enables financial institutions and their card processors to deliver a new category of proactive control and interactive services to consumers.
How they describe their product/innovation: Ondot empowers cardholders to remotely control their existing credit and debit cards from a smartphone app. Cardholders can lock or unlock their cards, set usage controls by location, merchants, transaction types, and spend limits, and receive and respond instantly to alerts and offers. Ondot’s customers have reduced fraud costs by 60%, increased card revenue by 50%, and gained market share in high-growth consumer segments.
Product Distribution Strategy: Through financial institutions, through other fintech companies and platforms